Core Viewpoint - LiqTech International, Inc. reported a sequential revenue growth of 37% in Q4 2024, driven by an increase in pilot systems and improvements in the swimming pool business, despite an overall revenue decline for the fiscal year 2024 compared to 2023 [3][4]. Recent Financial Highlights - FY 2024 revenue was $14.6 million, down 18.9% from $18.0 million in FY 2023, primarily due to reduced deliveries in various product lines [4][5]. - Q4 2024 revenue was $3.4 million, a 37% increase from Q3 2024 but a 13% decrease from Q4 2023 [5]. - The company reported a net loss of $(10.3) million for FY 2024, compared to $(8.6) million in FY 2023 [9]. Outlook - The company expects Q1 2025 revenue to be between $4.3 million and $4.7 million, indicating a sequential increase of 26% to 38% from Q4 2024 [10]. Recent Operational Highlights - A record commercial order for PureFlow Mobile Units was received from Razorback Direct for the North American energy sector, expected to contribute to revenue growth in Q1 2025 [5][6]. - The company has implemented a cost reduction strategy aimed at lowering the break-even target to approximately $5.5 to $6.0 million in quarterly revenue [3][5]. - LiqTech is expanding its presence in the swimming pool market and has entered a joint venture to develop water treatment systems for marine ships in China [5][6]. Management Commentary - The CEO highlighted the importance of the recent commercial order as a validation of LiqTech's solutions in the energy industry and expressed optimism about future growth opportunities [3][5]. - The company is focused on achieving profitability in 2025 through revenue growth and cost-saving initiatives [3].

Core Points - LiqTech International, Inc. will report its financial results for Q4 and fiscal year 2024 on March 28, 2025, before market opens [1] - A conference call to discuss the results is scheduled for the same day at 9:00 a.m. ET [2] Company Overview - LiqTech International, Inc. is a clean technology company specializing in ceramic silicon carbide filtration technologies for gas and liquid purification [4] - The company develops products using proprietary silicon carbide technology, offering solutions for microfiltration and ultrafiltration applications [4] - LiqTech's products are designed for challenging purification applications, including controlling diesel exhaust soot emissions [4]

Core Viewpoint - LiqTech International, Inc. has received supplier approval for its Water Treatment System (WTS) for WinGD 2-stroke dual-fuel engines, marking a significant step in advancing the decarbonization of marine transportation [1][4]. Company Overview - LiqTech International, Inc. is a clean technology company specializing in advanced filtration products and systems, particularly using silicon carbide (SiC) ceramic membranes for gas and liquid purification [6]. - The company holds a market share greater than 20% in the marine scrubber market, which includes hybrid and closed-loop systems [5]. Technology and Innovation - LiqTech's membrane technology allows for efficient filtration, enabling the reuse of 80-95% of feed water, which is crucial for sustainable shipping [3]. - The company's systems have been installed in over 170 marine water treatment systems worldwide, showcasing their extensive experience in the filtration industry [3]. Industry Context - The marine shipping industry is transitioning towards cleaner fuel applications, with a notable increase in new vessels equipped with dual-fuel engines that require reliable water treatment for exhaust gas recirculation (EGR) systems [4]. - Approximately 400 new vessels are on order with EGR solutions planned between 2024 and 2027, indicating a growing demand for effective water treatment solutions [4]. Strategic Partnerships - The approval from WinGD allows LiqTech to deliver its systems to WinGD, its licensees, and authorized service partners, enhancing collaboration in the marine engine sector [4].

Core Insights - LiqTech International, Inc. has appointed David Kowalczyk as Chief Financial and Chief Operating Officer, effective March 1, 2025, indicating a strategic move towards enhancing leadership in financial and operational management [1][2]. Company Overview - LiqTech International, Inc. specializes in advanced filtration technologies, particularly ceramic silicon carbide filtration systems for gas and liquid purification, addressing challenging purification applications [4]. - The company utilizes nanotechnology to develop proprietary silicon carbide products, offering modular filtration solutions for complex water purification challenges [4]. Leadership Experience - David Kowalczyk brings over 20 years of leadership experience in global industrial companies, with expertise in finance, strategy, equity analysis, audit, and operational management [2]. - Kowalczyk has held senior roles in various organizations, enhancing his capability to contribute to LiqTech's growth and profitability [2][3]. Transition Details - Phillip Massie Price, the Interim CFO since March 2024, will step down upon Kowalczyk's arrival but will remain until April 30, 2025, to ensure a smooth transition [3].

Core Insights - LiqTech International, Inc. has secured a significant commercial order for its PureFlow™ mobile units from Razorback Direct, marking a key advancement in its expansion within the North American energy sector [1][5] Company Overview - LiqTech International, Inc. specializes in high-tech filtration technologies, particularly ceramic silicon carbide filtration for gas and liquid purification [8] - The company develops products utilizing nanotechnology, resulting in advanced filtration solutions for challenging purification applications [8] Product Details - The LiqTech PureFlow™ mobile units are designed to address water quality challenges in energy operations, featuring fully containerized and automated systems that require no daily manpower [3][4] - These units can treat raw produced water to achieve oil concentrations of 1–3 ppm without pretreatment, making them suitable for direct reuse or desalination [4] - The units are built to operate reliably in various climates, from freezing temperatures to extreme heat, and are expected to have low operational costs due to minimal manpower requirements and a 5-year membrane warranty [4][6] Market Impact - The recent order follows a successful pilot program that demonstrated the units' effectiveness in managing complex water streams and generating lower waste volumes compared to traditional technologies [5][6] - Razorback Direct's leadership expressed confidence in LiqTech's technology, highlighting its value in providing efficient and reliable solutions for water management challenges in the energy sector [6] Future Outlook - The mobile units from this order are scheduled for delivery in the first quarter of 2025, indicating ongoing growth and demand for LiqTech's innovative solutions in the energy industry [6]

Financial Performance - Revenue for Q3 2024 was $2,478,221, a decrease of $2,592,225 or 51.1% compared to $5,070,446 in Q3 2023[86] - Gross loss for Q3 2024 was $209,533, representing a gross loss margin of 8.5%, compared to a gross profit of $948,565 and a margin of 18.7% in Q3 2023, marking a decrease of $1,158,098 or 122.1%[90] - Net loss for Q3 2024 was $2,840,526, an increase of $1,426,296 or 100.9% from a net loss of $1,414,230 in Q3 2023[96] - Revenue for the nine months ended September 30, 2024 was $11,198,627, a decrease of $2,873,357, or 20.4%, compared to $14,071,984 for the same period in 2023[98] - Gross profit for the nine months ended September 30, 2024 was $778,780, representing a gross profit margin of 7%, down from $2,502,435 and 17.8% in 2023, a decrease of $1,723,655, or 68.9%[100] - Net loss for the nine months ended September 30, 2024 was $7,340,521, an increase of $1,981,496, or 37.0%, compared to a net loss of $5,359,025 in 2023[106] Operating Expenses - Total operating expenses for Q3 2024 were $2,380,440, a decrease of $266,978 or 10.1% from $2,647,418 in Q3 2023[91] - Selling expenses in Q3 2024 were $610,713, down $354,326 or 36.7% from $965,039 in Q3 2023[92] - General and administrative expenses increased by $237,587 or 18.9% to $1,491,366 in Q3 2024 compared to $1,253,779 in Q3 2023[93] - Research and development expenses decreased by $150,239 or 35.1% to $278,361 in Q3 2024 from $428,600 in Q3 2023[94] - Total operating expenses for the nine months ended September 30, 2024 were $7,501,292, a decrease of $495,621, or 6.2%, compared to $7,996,913 for the same period in 2023[101] - Selling expenses decreased by $1,192,285, or 37.5%, to $1,983,414 for the nine months ended September 30, 2024, compared to $3,175,699 in 2023[102] - General and administrative expenses increased by $887,202, or 24.0%, to $4,577,413 for the nine months ended September 30, 2024, compared to $3,690,211 in 2023[103] - Research and development expenses decreased by $190,538, or 16.8%, to $940,465 for the nine months ended September 30, 2024, compared to $1,131,003 in 2023[104] Cash Flow and Financing - Cash flows used in operating activities for the nine months ended September 30, 2024 were $5,528,442, an unfavorable change of $2,554,778 compared to $2,973,664 for the same period in 2023[118] - Cash flows used in investing activities improved to $28,767 for the nine months ended September 30, 2024, compared to $2,261,131 for the same period in 2023, representing an improvement of $2,232,364[119] - Cash flows used in financing activities were $125,718 for the nine months ended September 30, 2024, a decline of $844,045 compared to cash flows provided of $718,327 for the same period in 2023[120] - The company raised net proceeds of $1,107,385 from the issuance of common stock and prefunded warrants during the financing activities[120] - The company entered into an agreement to issue and sell Common Stock and warrants for gross proceeds of up to $10 million, receiving approximately $1.2 million in the first tranche and $8.8 million in the second tranche[109] Internal Controls and Compliance - Management identified material weaknesses in internal controls over financial reporting, which were not effective as of September 30, 2024[127] - The company has initiated remediation efforts, including hiring additional finance staff and implementing a new ERP system to enhance internal controls[129] - The company is committed to improving its internal control system, although material weaknesses cannot be considered fully remediated until relevant controls operate effectively over time[130] Business Operations and Strategy - The decrease in revenue was attributed to reduced deliveries of ceramic membranes, DPFs, and liquid filtration systems, partly offset by increased sales of plastics products[86] - The company is expanding its product range to leverage existing customer relationships and develop new ones in various industries, including oil & gas and marine[81] - As of September 30, 2024, the company had cash of $4,535,266 and net working capital of $9,963,511, a decrease of $4,626,921 compared to December 31, 2023[107] - Other expenses for Q3 2024 were $260,614, a decrease of $530,757 or 196.5% compared to other income of $270,143 in Q3 2023[95] - Other expenses for the nine months ended September 30, 2024 were $656,659, a decrease of $749,019, or 811.0%, compared to other income of $92,360 for the same period in 2023[105] - The net loss for the period ending September 30, 2024 was $7,340,521, adjusted for non-cash items including depreciation of $3,455,950[118] - The assessment of critical accounting estimates includes revenue recognition, product warranties, and collectability of accounts receivable, impacting gross profit and operating expenses[122]

Financial Data and Key Metrics Changes - The conference call discusses LiqTech International's third quarter 2024 financial results for the period ending September 30, 2024 [3]. Business Line Data and Key Metrics Changes - Specific details regarding changes in various business lines are not provided in the available content. Market Data and Key Metrics Changes - Information on market data and key metrics changes is not included in the provided content. Company Strategy and Development Direction and Industry Competition - The management team, including the CEO and Interim CFO, is present to discuss the company's strategic direction, but specific strategies and competitive positioning are not detailed in the available content [4]. Management Comments on Operating Environment and Future Outlook - Management may provide insights on the operating environment and future outlook during the call, but specific comments are not captured in the provided content. Other Important Information - The call includes a forward-looking statement disclaimer, indicating that the statements made may be subject to risks and uncertainties [5]. Q&A Session Summary - The Q&A session is mentioned, but no specific questions or answers are provided in the available content.

Core Viewpoint - LiqTech International, Inc. reported a significant decline in revenue for Q3 2024, primarily due to delays in a major water treatment project, but is optimistic about future growth opportunities and has implemented cost reduction strategies to improve profitability [2][4]. Financial Highlights - Revenue for Q3 2024 was $2.5 million, a 51% decrease from $5.1 million in Q3 2023, attributed to delays in a large commercial project [2][5]. - Gross loss margin was (8.5)% compared to a gross profit margin of 18.7% in Q3 2023, reflecting a gross loss of $(0.2) million [6]. - Net loss for the quarter was $(2.8) million, compared to $(1.4) million in Q3 2023 [8]. - Ending cash balance was $4.5 million as of September 30, 2024, with a pro forma cash balance of $13.3 million after a private placement [2][8]. Operational Highlights - The company entered a joint venture with Jiangsu Industrial Technology Research Institute to develop water treatment equipment for marine ships in China [3]. - A pilot project order was received from a U.S. petrochemical company for microplastics removal [3]. - Two swimming pool systems were delivered to Ireland and Spain during Q3 2024 [3]. - Testing of a mini unit for lithium brine production pretreatment was completed, leading to a pilot unit order [3]. - A cost reduction strategy was implemented to lower the break-even target to approximately $5.5 million in quarterly revenue [3][4]. Management Commentary - The CEO noted that the delay in the water treatment project impacted Q3 results but emphasized the number of ongoing testing and piloting programs [4]. - The company expects Q4 2024 revenue to be between $3.3 million and $4.3 million, compared to $3.9 million in Q4 2023 [4][9].

Group 1 - LiqTech International, Inc. will report its financial results for Q3 2024 on November 14, 2024, before the market opens [1] - A conference call to review the results is scheduled for the same day at 9:00 a.m. ET [2] - Interested parties can access the conference call via phone or a live webcast [2] Group 2 - LiqTech International, Inc. specializes in high-tech filtration technology, particularly ceramic silicon carbide filtration for gas and liquid purification [4] - The company develops products using proprietary silicon carbide technology, offering solutions for microfiltration and ultrafiltration applications [4] - LiqTech's products are designed for challenging purification applications, including controlling diesel exhaust soot emissions [4]

Core Viewpoint - LiqTech International, Inc. has announced a definitive securities purchase agreement with existing institutional investors, aiming to raise funds through a Private Placement to support its growth strategy in various sectors [1][4]. Group 1: Private Placement Details - The Private Placement will consist of 3,630,129 shares of common stock, 1,369,871 pre-funded warrants, and warrants to purchase up to 5,000,000 shares of common stock [2]. - The purchase price for one share of common stock and one accompanying warrant is set at $2.00, while the price for one pre-funded warrant and one accompanying warrant is $1.999 [2]. - The transaction will close in two tranches, with the first tranche representing 19.99% of shares outstanding prior to the Private Placement, and the total gross proceeds expected to be $10 million [3]. Group 2: Use of Proceeds - Proceeds from the Private Placement will be utilized for ongoing commercial development in the U.S. oil & gas sector, expansion in the European and U.S. swimming pool sector, and a new initiative in marine exhaust gas recirculation water treatment [4]. Group 3: Company Overview - LiqTech International, Inc. specializes in high-tech filtration technology, providing advanced ceramic silicon carbide filtration technologies for gas and liquid purification [6]. - The company develops products using proprietary silicon carbide technology, offering solutions for challenging purification applications, including diesel exhaust soot emissions control [6].